Company News by ForexMart

[Andrea ForexMart]

Deposit Insurance


We want nothing but the best for all our clients – and that includes prioritizing your funds and interests.


ForexMart is a member of the Investor Compensation Fund, a fund conceived by the Section 17 of the Investment Services and Activities and Regulated Markets Law of 2007, which states every Cypriot investment firm must be part of the Fund. Its main objective is to secure claims of the covered clients in the event the company in question fails to perform its obligations, specifically:

• Return the funds owed or belong to the covered client.
  
• Turn over the financial instruments to the customer entrusted to the member firm.
  

The fund will pay the compensation for the affected client, subject to the existing legal and contractual terms. However, individuals with ongoing criminal proceedings are prohibited from making claims, as per Prevention and Suspension of the Legislation of Proceeds from Criminal Activities Law of 2007.


Compensation payable to the covered client will depend on the prevailing rules and company's books. It is computed by adding all the total established claims of the client against the firm, stemming from all the services rendered by the entity. As of present, the amount paid to the covered clients is €20,000.

 

[Andrea ForexMart]

Bank of Spain Seen Growth in Spanish Economy


According to the central bank of Spain, robust export could possibly help increase the country’s economy by 0.8 percent quarterly rate over the past three months of 2017 amid the unfavorable consequences brought by the Catalan political crisis.


The Spanish economy is expected to grow by 3.1 percent this year, however, the government has to revise the outlook for 2018 by 2.3 percent versus the initial estimate of 2.6 percent due to risks generated from the already separated regional government of Catalan that urge of its

independence last October.


On Wednesday, the central bank further mentioned that buoyant exports generally created for the economic fallout in wealthy Catalonia. The projections and official data are scheduled to be released next month by the National Statistics Institute.


Currently, Spain is one of the fastest-growing economies of the European Union after emerging from the collapse in late 2013.

 

[Andrea ForexMart]

The current Money Fall contest has already started on January 1, 2018 and will end on January 5, 2018.


You can register for the next competition which will take place from January 8, 2018 to January 12, 2018


Note:

Registration for the next competition finishes 1 hour before the contest starts.


Congratulations to all the winners!

 

[Andrea ForexMart]

ForexMart - Callback Service


We are more than ecstatic to attend to all your inquiries and needs. Upholding our firm commitment to be your reliable trading partner, ForexMart wants to help you in every step of your trading journey.


If you are having any trouble calling our customer service, you may get in touch with us using our callback service. The feature is primarily designed to address all client queries as fast as possible. With this service, you can request to get in touch with one of our managers at your most convenient time. Ask and we shall call you back.


All you need to do is to provide your contact details and indicate your preferred callback time by filling up the form. Our Sales Department will respond to all your concerns within 24 hours. For other questions, please do not hesitate to contact us.


The service is free of charge and can be used by all our clients. Here's to wishing you a successful trading!

 

[Andrea ForexMart]

Macron Signed Trade Deals with China


French President Emmanuel Macron had an official visit to China for the first, securing multi-million worth of euro business agreement and Chinese President Xi Jinping acknowledged future relations between France and China.


France was the first western country to seal diplomatic relations with the People’s Republic of China in 1964 and the visit made by Macron indicates high regard between the relationship of China and France. The French leader walked through the Forbidden City along with his wife Brigitte and some students from the French international school.


The talks of the two leaders were all about the “Belt and Road” initiative aimed to improve trade links with China towards central Asia, Europe, and southeast Asia. They also tackled about environmental issues during the visit and Macron stated in Chinese language to “Make our planet great again” in Chinese, as regards to the decision of Donald Trump to pull out the United States from the Paris agreement on climate change. Aside from advancing trade links, Macron tries to reduce the trade deficit of France with China worth €30 billion (35.8 billion USD) and to have a better access towards the Chinese market.


During the signing ceremony, both Presidents signed 50 trade deals which include the strategically key sectors of nuclear energy and aerospace. On the other hand, the aeroplane business Airbus is scheduled to seal a multibillion-euro contract with China and Chinese e-commerce company JD.com disclosed their plans of selling French products to Chinese consumers amounted to €2 billion for the next couple of years.

 

[Andrea ForexMart]

Australian Confidence Index Surged Again


Based on the ANZ-Roy Morgan survey, the consumer confidence of Australia increased more than four-year high during the first week of the year. While the majority of Australians are enjoying the holidays, the question arises whether or not the surge was actually influenced by the positive confidence levels or the advancement was only temporary.


As a matter of fact, upon the publication of the initial report for 2015, the ANZ mentioned last week that confidence levels suddenly rose after the Christmas-New Year period. This could also probably driven by the fact that Australians are certain about their respective finances as well as to the current condition of the economy. According to the poll held last week, the confidence levels had a strong boost again.


David Plank, ANZ Bank Head of Australian Economics, mentioned that the positive development in the previous week showed a better sentiment in connection with the present financial and economic status, along with the projections for household expenditures.


This helped negate small declines in the sentiment of finances during the year ahead, while the economy in the next five years is predicted to fall by 0.2% and 0.5% respectively, with partial reversal of strong profits according to report last week.


As the current finances subindex picked up, the final component in the survey also showed some optimism on its forecast for consumption with an increase of 3.4 percent.

 

[Andrea ForexMart]

Tax Overhaul Supported Increase for US Economy


The U.S economy is expected to expand by 2.7 percent in 2018 due to President Trump’s tax reduction that led to growth, as indicated in the new report by the International Monetary Fund (IMF) on Monday. This further showed positive news in the economy marking a one-year leadership of the president in the White House. However, inequality in the United States remained to be extreme.


The initial forecast of the IMF for the American growth was only 2.3 percent but they decided to increase their predictions following the approval of the comprehensive amendment of the U.S. tax code in the past 30 years.

The significant corporation tax reduction rate from 35 percent to 21 percent will stir up growth in business investments, based on the recent World Economic Outlook quarter report of the IMF.


The United States also gained benefit from the world economic rebound which resulted in additional trade and purchase of some American products. The Washington-based organization mentioned about almost 120 countries that improved in 2017, which can be seen as a synchronized upward shift of economy since 2010. The IMF recently issued a brighter forecast for the US while the Wells Fargo currently projects for a 3 percent growth for this year. However, the IMF warned that the surge appears to be temporary and other organizations, particularly the World Economic Forum coincided with this statement. According to them, the boost is not enough to lessen the inequality issues which shows that top 1 progressed while the income of middle-classes was stagnant for nearly 20 years.


The reduction in the rate of tax is basically predicted to grow this year until 2018 and the increase will soon fade after the budget deficit ramp up and the government is obliged to seek further options either reduce expenditures or raise the revenue. In addition to it, the trade deficit could possibly even grow along with the economic improvement and Americans purchase more overseas products.

 

[Andrea ForexMart]

New Account Currencies Available


Good news to all traders! There are new currencies that can now be used as base currencies. These are Malaysian Ringgit (MYR), Indonesian Rupiah (IDR), Thai Baht (THB) and Chinese Yuan (CNY).


You can also use these currencies to deposit/withdraw funds to your account and participate in trading. To make it more convenient for ForexMart’s clients, it can be paid directly without the need for conversion. You can visit our registration page to open an account with these new currencies.

 

[Andrea ForexMart]

The current contest has already started on February 5, 2018 and will end on February 9, 2018.


You can register for the next competition which will take place from February 12, 2018 to February 16, 2018


Note:

Registration for the next competition finishes 1 hour before the contest starts.

 

[Andrea ForexMart]

Canadian Free Trade Slow Down its Economy


The Canadian economy had an unfavorable situation in the previous year. The trade data was published yesterday that shows a continuous decline in growth and tried hard to gain profits outside the energy sector despite the positive exchange rate and the demand in exports of US non-energy products reduced in terms of volumes. Also, any recorded growth over the past decades was mainly driven by higher prices.


The inactivity of the past years is considered an enigma for policymakers which may question Canada’s ability to maintain its growth rate followed by the fastest 3 percent expansion in 2017 over six years. Bank of Montreal Economist Benjamin Reitzes mentioned that the country’s current trade environment remains fragile due to the sluggishness of non-commodity exports. Canadians desire is to become “perennial optimists” of international trading amid uncertainties arises regarding advantages of open economies.


According to Prime Minister Justin Trudeau, trade is the main factor for economic growth, making his Liberal Party lawmakers advocates to preserve the North American Free Trade Agreement (NAFTA), which is currently in the seventh round of talks.


The trade performance of the country was dull except for oil and its non-energy trade deficit increased by $8.64 billion (US$6.9 billion) in December and $87 billion for the entire year. Generally, the number of export volumes including oil failed to sustain along with the imports which would mean trade industry was largely driven by the excellent economic performance last year thanks to domestic demand. With this, the Bank of Canada may delay the interest rate hike while evaluating the overall economic condition.


The not so strong non-energy trade indicates that Canada is highly dependent on oil in order to keep its trade balance from falling, even though Trudeau strives to turn around from commodities. Moreover, energy exports came in at 17 percent in 2017 and move higher by 14 percent in the beginning of the year.

 

[Andrea ForexMart]

More Pressure Besets Chinese Local Government with New Bond Rules


Local governments of Beijing were pressured to settle their financial problems while a new rule on are issued on lending companies.


Chinese firms have to confirm publicly that funds gained in selling bonds should not add to local government debt and they are not siding on any government financing sector based on the given notice from the country’s top planning agency.


Moreover, corporations should not demand or accept any assurance from local governments on debt financing, as stated by the National Development and Reform Commission (NDRC).


Regulators are looking for means to have a better control in the midst of a wider systemic risk on the high local government debt and their transparent financing.


Authorities are trying to separate financial actions as part of their restriction, which is often related to stand-alone companies in a technical perspective. In particular, credit rating agencies should not associate the financial reports and project data in credit ratings work with the local government credit ratings, according to the NDRC.


The Chinese government is trying to instill on investors that actions will be taken if they did wrongfully.


It means that the government is not responsible on increase in debts by these firms but they are still expected to intercept to provide support for these companies, referred as local government financing vehicles (LGFV) in settling compensation concerns.


The local debt of China’s government increased by 7.5 percent to 16.47 trillion yuan or $2.56 trillion at the end of 2017, based on the calculations by Reuters, which is still within the target figure of the government.


Outstanding corporate debt amounted to 165 percent of GDP, which has been the highest among major economies and is mostly owned by the state.

 

[Andrea ForexMart]

France Faces Structural Unemployment Issues


The jobless rate in France had decline generally, but there are no immediate solutions for skill shortages. French unemployment lowered down by double figures during the third quarter last year and resumed to drop until the fourth quarter. According to Bloomberg, the country’s unemployment rate in December 2017 was 8.9 percent while the fastest acceleration in employment creation since 1996. On the other hand, unemployment in 2017 plunge to 1.9 percent which is a major downturn in a decade.


Meanwhile, President Emmanuel Macron promised to lessen the unemployment by 7 percent in the year 2022. Structural unemployment is also one of the largest shortcomings during the Hollande administration in which Macron performed as the Minister of the Economy.


Nevertheless, France is also known for its issue regarding the country’s increasing skills gap. As mentioned by the Financial Times, there are about two million French workers with less qualification which became the underlying factor for structural unemployment. According to estimates, the job market of France was unable to appease the demand of 200,000- to-330,000 posts due to failure finding the appropriate candidate.


Moreover, the current administration plans to have a €15bn investment programme to improve employability skills especially for the below average job seekers and long-term unemployed. In case of the approval of the project, it will take two-to-three years to take effect.

 

[Andrea ForexMart]

South Korea’s BOK Prepares for Possible Scenario In Sudden Fed Rate Hikes


The Bank of Korea is ready to face any unfavorable outcome following the policy tightening in the U.S. at a faster rate, according to the chief of South Korea’s central bank, Lee Ju-yeol.

If the Fed acted earlier than expected, it will have an effect on the global financial market, as well as local market. Hence, they prepared beforehand in possible scenarios, as told by Lee Ju-yeol to reporters in Zurich.

He also said that the central anticipated the U.S. Federal Reserve to increase their rate thrice in 2018.

Another factor that will be faced by Korea is the protectionist moves of the U.S. against South Korea, he added.

 

[Andrea ForexMart]

Fall of Taiwan’s Export Orders Growth In January


Export orders of Taiwan are predicted to reach an 18th consecutive month high in January but at a slower pace compared in December. Moreover, the demand for the technology products remains strong for the country, according to the Reuters poll.


The forecast rose to 16.1 percent in January than the previous year, based on the median forecast of 15 analysts in the survey. Contrarily, growth for the month of December was 17.5 percent than 11.6 percent in November.


The export orders of the country signal the demand for Asian exports, including high-technology gadgets, that steers actual exports by two to three months.

 

[Andrea ForexMart]

PBOC’s Lent 105.5 B Yuan in Rollover of MLF Due in March


The People's’ Bank of China lent 105.5 billion yuan or $16.67 billion to various banks on Wednesday under its medium-term lending facility for a year, according to released reports.


The new MLF loans have a similar rollover value in the 1-year batch of MLFs that are due on the same day. Adding 189.5 billion in the same tenor to be expired on March 16.


Moreover, the central bank added that they will avoid reverse repos on Wednesday morning.


On December 14 last year, the PBOC augmented their interest rates on liquidity tools to 3.25 percent, as well as, the one-year MLF.

 

[Andrea ForexMart]

The Release of Government's EU Exit Analysis


The EU free trade agreements still expected to cost the UK by 4.8 percent of its projected economic growth for the next 15 years, based on the confidential government ‘EU exit analysis’ released yesterday. The decline in growth amounted to £55 billion of the British government debt by 2033, which could further negate the expected ‘Brexit dividend’ by the supporters of the EU exit. The report was issued by the department of Exiting the EU committee. Moreover, Brexit Secretary David Davis stated that the published document should be kept confidential but some parts of the material were already leaked to the media last month.


The alternative option led by Theresa May’s team is the “Membership of the single market” but was ruled out due to the possible drop in GDP by 1.6 percent. On one hand, the ‘no deal’ Brexit would return the UK trading with the EU-27 under the standards of the World Trade Organisation and would cost 7.7 percent of the GDP based on the government numbers. This could result in a surge of government borrowing by £20 billion and £80 billion, respectively. With this, there are assumptions that approximately 40,000 to 90,000 EU migrants are planning to leave the United Kingdom.


Included in the analysis is the projected economic benefits from the reducing regulations. The government of Britain would likely create its original version of impact assessment, however, some of the think tanks are expected to see potential gains around zero and 2 percent only of the GDP. Nevertheless, the report does not mainly evaluate the short-term economic effect of Brexit.


It further shows that the free trade deal with the United States would benefit the UK GDP by 0.2 percent in the longer term. While another concession with countries under the trans-Pacific and south-east Asia regional group such as Australia, China, India and New Zealand is expected to add 0.1 to 0.4 percent of GDP. Ministers of Britain are hoping to start the talks prior to the Brexit scheduled in March 2019, but this plan seems to be already abandoned.

 

[Andrea ForexMart]

Account Verification



Verify your ForexMart account to access all our services. Please take note this process can only be done on our website. If you do not verify your account, you may not be able to fully access our services.


Account verification is easy and simple. Just provide a scanned copy of a valid ID or passport and a proof of residence. We do not accept electronic bank statements and electronic utility bills.


After sending the requirements, our account team will look into it. You will receive an email validating your account or requesting additional documents for the verification process within 72 hours after uploading the requirements.



For more details regarding Account Verification, kindly follow this link: https://goo.gl/eVHCno


Thank you and have a nice day!

 

[Andrea ForexMart]

March Fed Rate Hike Marks an Optimistic Outlook for 2018

Full story at: https://goo.gl/b2M3WW

#economicnews #thinkbigtradeforex #forexmart

 

[Andrea ForexMart]

The current Money Fall contest has already started on April 2, 2018 and will end on April 6, 2018.

You can register for the next competition which will take place from April 9, 2018 to April 13, 2018

Note:
Registration for the next competition finishes 1 hour before the contest starts.

--Winners of March 12 - March 16, 2018--

1. alex7010403 of Borovaya Kharkovskoy oblasti (Acct. No.: 1087)

2. Ochechek01 of Барановичи (Acct. No.: 1155)

3. TOPMO3-23 of Tashkent (Acct. No.: 1108)

4. Wickiup_6 of Vinnitsa (Acct. No.: 1086)

5. MOZYR of мозырь (Acct. No.: 1094)

6. Ocho4 of Abuja (Acct. No.: 1115)

7. -----------SamNN---- of Нижний Новгород (Act. No.: 1090)

8. Phaq of hafizabad (Acct. No.: 1075)

 

[Andrea ForexMart]

French Economic Growth at 0.3% in Q2, says BOF


The French economy is projected to expand by 0.3 percent during the period of April-June, this showed unchanged growth pace in the first quarter, according to the initial estimate of the Bank of France on Monday.


The central bank’s business sentiment indicators for both services industry and manufacturing sector had declined by 102 points in the previous month versus 103 points in March. In April, the BOF revised lower its economic growth forecast in Q1 from 0.4 to 0.3 percent due to lackluster activity in the manufacturing industry.


The country’s data reflects a larger reduction in the European economy, as ECB Executive Board member Benoit Coeure mentioned last month that the eurozone is expected to suffer from major correction instead of a downturn as growth rates hold out its multi-year highs.